Wednesday, 21 December 2011

Intraday Free Nifty Tips

NIFTY

Weekly: As mentioned last week, Nifty broke 4850, tested previous low of 4639, and made a low of 4628. Overall trend is down and every rise is a selling opportunity to an expected lower target of 4185-3739 in coming days. In this week, consider resistance at 4810-4850, downside support at 4600, below another round of panic on the card. Fibonacci Target: 4335-3895 in coming sessions.

Today: As expected, Nifty was unable to cross 4650, slipped to 4521, and closed near two days' low. Now today consider support at 4531-4510, decisively break with volume further weakness, and may test 4400-4350, higher-level resistance at 4680-4700-4710. Higher-level time to sell side.